I love talking about finances. I find spending habits and how couples manage there incomes fascinating. I don't need to know how much they make but what do they do with their money is so interesting to me.
I realize that I am a dork, but I love this stuff.
We don't have a budget. I am not saying that it is a financial free for all at our house, but some money comes in, some goes out, and goes to savings. I know about what I spend each month on groceries and extras, but that is it.
I got laid off just before we were married and then promptly had Taylor, we have never been a two income household. There was never mine and yours, it was always ours.
It works for us, but all my friends do it differently. Some have budget for everything, some put percents of their income into the communal pot for bills, some have one income go to savings and retirement and one for monthly expenses.
How do you manage your money?
Do you know how much or what percent goes to different things each month (like groceries, or eating out, shoes...)?
Do you have any tricks or tips for saving money, budgeting, or otherwise managing money?
Are there things you are not willing to skimp on?
Best,
elena
Yes I definitely do! I almost always use this one
ReplyDeletehttp://allrecipes.com//Recipe/grandmas-lemon-meringue-pie/Detail.aspx
I've made it a couple times and the first few times I didn't let it cook long enough so the lemon base was too runny rather than gel textured!
We never had a budget, either- that is, until Will was laid off last year, just one week after I found out I was pregnant with Silas. That was a scary time. I had no idea how hard it would be for him to find a decent job again. I had no idea how un-hirable pregnant women are. We were mainly living off our savings, and we weren't able to replenish what we had to take out.
ReplyDeleteOf course, we made it through and are doing just fine now, but that experience, and the big pay cut our household took, made me re-think the way we (mostly me, as I run the household) spend our money.
What I used to feel was "normal" spending (weekly shopping trips, mani/pedis, browsing Amazon), I now view as splurging. I still splurge, just not nearly as often.
I do my toes at home. I like to browse through thrift stores to get my shopping fix (by the way, thrift stores tend to have great kid's clothing). I buy cheaper laundry detergent. I make sure unneeded lights are off.
I need to give myself a grocery budget. I spend WAY too much money on groceries. I'm still not sure how to cut back on that.
We are still able to be a one-income household, and I feel lucky to be able to still stay home with the kids, but managing money was more fun when we had more of it to manage :) Now, it just feels like a chore.
We don't have a specific budget for all expenses, mostly because we have basically zero discretionary income (just like Jeanie!). Once I pay all the required bills I try to transfer anything that's left over into savings. We don't pay for haircuts or go out to the movies. This year we're raising chickens for the first time and planting a 150 sq. ft. vegetable garden for food. Gosh, I have so many tips and tricks for saving money and budgeting that there is no way they'd all fit here! But basically I've always found that no matter how much I think we're living as frugally as possible, there's always more we can cut.
ReplyDeleteWe are a one income household right now (not necessarily by choice). My husband works, and I take care of all the finances. It works out better that way because I like it, and he hates it. I have a very strict budget, where I know the dollar amount that can be spent monthly on each category of expenses. Each month I make a spreadsheet and go through our checking account and credit card activity, putting every charge in its correct category on the spreadsheet. In addition, I have taken all our once a year expenses (such as car registration, contacts, accountant fees, etc.) and divided it by 12 to see how much we should be setting aside monthly for these expenses we know will come about. I set aside money for car repairs each month also with the thought being that should something happen we won't be scrambling for money. We also put aside money for a vacation fund and IRA also. The two things we won't skimp on are the vacation and IRA funds. Traveling is really important to me, so I put it above most things. I don't buy a lot of new clothes, get pedicures...we don't eat out a lot, and I stopped getting my hair highlighted. Having money to take a trip every year is higher on our priority list, so much so that we'll live in a smaller place just to make sure we still have money for it.
ReplyDeleteI am the WORST with the budget. The hubs handles the whole thing. Stupid, I know..but I know exactly what I spend on groceries each week, and usually prepare a menu for the week and base my list on that. Believe it or not, it really helps keep the grocery shops on budget and consistently between $160-$180/week for five of us.
ReplyDeleteWe do a lot of talking about doing a budget, but never get further than that. Hmmm let's talk some more on what we already know we need to do. It's rather laughable. So no. We don't have a budget, but we would like one. :-P
ReplyDeleteMy boyfriend and I have been living together about 2 years, and pretty much budget all of our finances separately (except bills/ rent we just split). It works for us, and I can't fathom sharing with anyone haha! The one thing I won't scrimp on is groceries, since I very rarely go out to eat.
ReplyDeleteWe are an 'ours' too. My husband keeps track of the finances, but gives me free reign on grocery list. He tells me how much I have to spend on it, and I meal plan accordingly. Works for us!
ReplyDelete